Government 'won't get write-off'

Independent TD Shane Ross says Government will not achieve Anglo debt write-off

Independent TD Shane Ross says Government will not achieve Anglo debt write-off


A group of independent TDs has contended the Government will not be capable of getting any write-off of the overall debt of €47 billion incurred by the State from the promissory notes used to shore up the former Anglo Irish Bank.

The Dublin South Dáil Deputy Shane Ross has tabled a private members motion on behalf of the group condemning what he says has been the Government's inability to secure a write-down of the debt with the European Central Bank. The motion will be debated tonight and tomorrow night in the Dáil.

Mr Ross and a number of his independent colleagues held a press conference on the plinth of Leinster House this afternoon in which they argued that the two Coalition parties had failed to live up to their pre-election promises on dealing with bank debt.

They said the Government might get an agreement to extend the repayment schedule for the promissory notes but would not succeed in getting the debt itself reduced.

"We will get a deal and we will get an absolutely token humiliating deal. The Government is going to come out and sell a deal that is sending this promissory note to our great grandchildren.

It will be a humiliating deal. It will extend and pretend but it will not attack the real problem which is a write-off of the debt," Mr Ross told reporters.

"I am dreading a deal which is dictated by Europe and which is expected so readily by this Government.

"True to form they will take it lying down and they won't confront those people who have lent this money recklessly at those exorbitant rates," he added.

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